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Net 4 India reports a loss of Rs 4.22 crore in Q2 FY17

Web domain and hosting service provider Net 4 India has reported a consolidated net loss of Rs 3.83 crore for the quarter ended September 30, 2016 (Q2 FY17). Net loss stood at Rs 6.88 crore in the same quarter last year.

It registered a loss before tax of Rs 4.22 crore for the quarter, registering substantial growth from a loss of Rs 10.22 crore the preceding quarter, and a decrease from a loss of Rs 3.16 crore from the corresponding quarter last year.

The company’s income from operations stood at Rs 8.69 crore, down by 28% from Rs 12.12 crore in the previous quarter, and by 21% from Rs 11 crore in the same quarter last year. The loss from operations before other income and interest stood at Rs 10.23 crore, up from a loss of Rs 3.16 crore the previous quarter.

Note that Net4India is being having a hard time recently, especially due to its name being associated with the recent Twitter hacks by a group called Legion. It’s been reported that most, if not all, of the compromised accounts used Net4India as their domain name provider, which led to speculations that either the company’s systems were not very secure, or an internal compromise had taken place. However, the company has denied such allegations.

Note that Net4India did not mention it sales figures this quarter.

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Download: Financials

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